BMO Capital Markets Reiterates “Outperform” Rating for Celestica (NYSE:CLS)

Celestica (NYSE:CLS) (TSE:CLS)‘s stock had its “outperform” rating reaffirmed by analysts at BMO Capital Markets in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $130.00 price target on the technology company’s stock, up from their previous price target of $118.00. BMO Capital Markets’ price target suggests a potential upside of 8.69% from the stock’s previous close.

CLS has been the subject of a number of other reports. Argus decreased their price objective on shares of Celestica from $150.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. JPMorgan Chase & Co. boosted their price target on Celestica from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 price objective on shares of Celestica in a report on Monday, April 28th. Finally, Barclays decreased their target price on Celestica from $157.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.82.

Celestica Trading Up 1.1%

NYSE CLS opened at $119.61 on Thursday. Celestica has a 12 month low of $40.25 and a 12 month high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average price is $90.49 and its 200-day moving average price is $97.26. The stock has a market cap of $13.83 billion, a P/E ratio of 31.98 and a beta of 1.65.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Celestica had a net margin of 4.61% and a return on equity of 23.34%. Celestica’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. As a group, equities analysts forecast that Celestica will post 4.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Celestica

A number of large investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new position in shares of Celestica in the 4th quarter worth approximately $385,000. Raymond James Financial Inc. bought a new position in Celestica in the 4th quarter worth $47,685,000. Schechter Investment Advisors LLC purchased a new position in Celestica during the fourth quarter valued at $294,000. American Century Companies Inc. grew its holdings in Celestica by 16.4% during the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock valued at $20,217,000 after purchasing an additional 30,851 shares during the period. Finally, Fruth Investment Management bought a new stake in Celestica during the fourth quarter valued at about $286,000. 67.38% of the stock is currently owned by institutional investors.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.